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QUESTION 22 What is the nominal annual rate (APR) if a bank charges you a 12 percent actual rate (EAR=12%) compounded weekly (52 weeks

QUESTION 22 What is the nominal annual rate (APR) if a bank charges you a 12 percent actual rate (EAR=12%) compounded weekly (52 weeks a year)? (Hint: Use the NOMINAL function in Excel to calculate the APR.) 11.81% 12.82% 11.35% 10.84%

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